AIM-listed ATOME, the leading developer of international green fertiliser projects, has announced that the Green Climate Fund ('GCF'), the world's largest climate fund, has approved US$50 million of concessional finance for the Villeta Project.
Highlights
- The Board of GCF has approved US$50 million of concessional finance for the Project, through the International Finance Corporation, part of the World Bank Group, as Accredited Entity
- This finance is in addition to the senior debt financing package to be provided by a consortium of leading international development finance institutions
- GCF is the world's largest climate fund, with a current portfolio of approximately US$18 billion invested in various projects around the world
- The concessional finance reduces the Project's cost of capital and supports market competitiveness
- GCF views the Project as a large-scale catalytic step towards decarbonising fertiliser production across South America and importantly will contribute to the sustainability, affordability and security of the food supply chain
Olivier Mussat, CEO, commented:
'The Green Climate Fund's board approval of significant concessional finance is a powerful validation of the Villeta Project's credibility, ambition, and alignment with global sustainability goals.
'This highly competitive funding, alongside competitive senior debt support from leading multilateral development institutions, will meaningfully lower the overall cost of capital. By enhancing the value of the equity component, it importantly enhances the bankability and value of the Project equity and will assist in optimising returns for ATOME's shareholders.
'With daily momentum building on the US$630 million Villeta Project, we are advancing confidently toward a Final Investment Decision in the coming months.'
Villeta Project
ATOME is an AIM-listed company targeting green fertiliser production with 445-megawatt of projects in Paraguay and a further pipeline of potential projects in Central America.
ATOME's first project in Villeta, Paraguay, benefits from a 145MW renewable power purchase agreement and 43 hectares of land in a tax-free zone. Front End Engineering Design studies have been completed and Heads of Terms signed with Yara International, the leading international fertiliser company, for offtake of all of Villeta's green fertiliser production. In early 2025, ATOME announced Hy24, the leading clean hydrogen asset manager, as anchor and lead equity investor in the project, and confirmed the signing of the US$465 million fixed-price EPC contract with leading ammonia and fertilizer engineering specialist Casale S.A. The Company is now negotiating the project finance with a view to commencing work in 2025. There is a further up to 300MW of renewable power reserved for ATOME in Paraguay.
Source: ATOME
